An investigation on behalf of current long term investors in DouYu International Holdings Limited (NASDAQ: DOYU) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 07/02/2020 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of DouYu International Holdings Limited.
Investors who are current long term investors in DouYu International Holdings Limited (NASDAQ: DOYU) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: DOYU stocks follows a lawsuit filed against DouYu International Holdings Limited over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: DOYU stocks, concerns whether certain DouYu International Holdings Limited directors are liable in connection with the allegations made in that lawsuit.
According to the complaint the plaintiff alleges on behalf of investors who purchased DouYu International Holdings Limited (NASDAQ: DOYU) pursuant and/or traceable to DouYu's July 18, 2019 initial public offering, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that DouYu's registration statement contained statements that were materially inaccurate, misleading, and/or incomplete because they failed to disclose that DouYu's risks related to its top streamers had materialized, including that: (a) a top streamer was actively misrepresenting herself on DouYu's platform, and (b) the costs associated with retaining top streamers was swelling, that DouYu did not ensure that all of its products were fully compliant with current regulatory requirements before those products became available on line, and that key interactive features of DouYu's "lucky draw" were noncompliant with current regulatory requirements, requiring DouYu International Holdings Limited to remove them from operations, which negatively impacted user engagement activity and caused disappointing financial results
Those who purchased shares of DouYu International Holdings Limited (NASDAQ: DOYU) have certain options and should contact the Shareholders Foundation.
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